Cocoa farmers deserve better – Dr Yamson questions COCOBOD’s pricing model

The Chairman of the National Economic Dialogue, Dr Ishmael Yamson, has criticised COCOBOD’s role in Ghana’s cocoa sector, arguing that the institution no longer prioritises the interests of farmers.

Speaking in an interview on TV3 on Sunday, March 10, 2025, Dr Yamson questioned the pricing model that determines how much farmers receive for their produce.

He contended that COCOBOD retains the majority of revenue from cocoa sales, leaving farmers struggling to make a decent living.

“During Nkrumah’s time, COCOBOD was not there to make losses. It was there to protect the farmer,” he said.

“Now, it doesn’t work in the interest of the farmers any longer. If you do the calculation, why should COCOBOD keep the majority of the money while farmers earn so little?”

COCOBOD, which regulates Ghana’s cocoa sector, is responsible for setting farmgate prices and managing cocoa revenue. However, mounting debt and financial inefficiencies have raised concerns about the institution’s sustainability.

Government officials argue that farmers receive about 63% of cocoa revenue, but Dr Yamson dismissed this claim, stating that the figure does not reflect the actual income farmers take home.

“I heard that. I don’t know how they did their calculation, but 63% minus the cost of production? The farmer is not getting the price,” he stressed.

He also questioned why cocoa farmers are compelled to sell exclusively to COCOBOD, suggesting that they should have better options.